The latest acronymic
investment strategy, CRAP
focuses on computers,
resources, American banks,
and phone carriers. It’s as
if this column were being
written for me.

Source: Seeking Alpha

• SWIPERS / • noun.

The rise of self-scanning
supermarket checkouts has
increased the incidence of swipers
(“seemingly well-intentioned
patrons engaging in routine
shoplifting”). Is there some hi-tech
reason why we don’t just call these
people thieves? Source: BBC

PANK / • noun.

“Professional aunt, no kids.” PANKs“play a fnancially meaningfulrole in the lives of other people’skids, are active on social media,and infuence the purchasingdecisions of those around them.”We assume the male version isPUNK. Source: ForbesPhotograph by MAURICIO ALEJO

difcult decision.” Fortunately, sales
consistent with its new mission have
more than compensated for the loss,
and revenue is up 50 percent.

•

USE IT TO DEFUSE OBJECTIONS

Karen Curtiss founded PartnerHealthafter her father died from hospital-acquired infections. Her companyprovides checklists and education forpatients, families, and providers tohelp prevent these conditions. Buthospitals can be resistant to dis-cussing the issue. So Curtiss lets hermission statement speak for her. Itbegins: “Patients, their families, andall care providers will be ‘on thesame page’ for patient safety withour Safe & Sound checklists andtools.” She’s used the statement toexplain that her company wantsto collaborate, not accuse. It’shelped the company get its trainingmaterials into more than 50 hospitalsacross seven states and to thousandsof health care providers.

NEED A MISSION
STATEMENT?

WRITE ONE
THAT WORKS

—

ASK WHY, NOT WHAT

Before you pen a mission statement,
consider why your company exists, not just
what it does. One company’s execs told
Brad Federman, COO of consulting frm
F&H Solutions Group, “We make electrical
parts. It isn’t sexy.” But its components
are in the Empire State Building and the
Golden Gate Bridge. That led to a new
perspective and a clear mission: “We help
build and sustain American icons through
quality American manufacturing.”

—

KEEP IT SHORT

“Three sentences are about the most you
should ever have,” says Federman. “If
there are a lot of paragraphs, people won’t
remember them. One of the best was Pepsi’s
one-time mission statement ‘Beat Coke.’
People would come to work thinking, ‘How
do I beat Coke today?’ ”

—

IF YOU CAN’T DO IT RIGHT, DON’T DO IT

“If a consultant or marketing frm wrote
it for you with nice, fowery language, it’s
meaningless,” Federman says. A bad
mission statement can hurt you, he adds.

“If it says one thing and people see the
company doing something diferent, it
creates doubt in employees’ and customers’
minds. You’re better of without one.”

•
WRITTEN IN STONE

The much-maligned
company mission
statement can be a
powerful, and lasting,
sales tool.

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